Hello-

In 2024 client is only eligible member for SEP. In 2025, their son will also be eligible.

1. If they make their 2024 contribution next calendar year before filing their return, does that in any way impact having to make a contribution for the son?
2. If they make their 2024 contribution next calendar year before filing their return, would they still have the option of switching to a 401k for 2025?

Thank you!